Anika Therapeutics (NASDAQ:ANIK) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Anika Therapeutics Inc. (NASDAQ:ANIK)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $13.10 and traded as high as $16.12. Anika Therapeutics shares last traded at $15.60, with a volume of 46,920 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wall Street Zen cut Anika Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Anika Therapeutics in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $17.00.

Anika Therapeutics Stock Down 3.0%

The company has a fifty day simple moving average of $14.85 and a two-hundred day simple moving average of $13.10. The stock has a market capitalization of $207.64 million, a P/E ratio of -19.75 and a beta of 0.23.

Anika Therapeutics (NASDAQ:ANIK) last announced its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.34. The company had revenue of $29.61 million during the quarter, compared to the consensus estimate of $28.14 million. Anika Therapeutics had a negative return on equity of 5.90% and a negative net margin of 9.52%. As a group, equities analysts forecast that Anika Therapeutics Inc. will post -0.74 earnings per share for the current year.

Insider Buying and Selling

In related news, Director John B. Henneman III bought 5,000 shares of the company’s stock in a transaction on Friday, May 1st. The shares were purchased at an average cost of $14.66 per share, for a total transaction of $73,300.00. Following the acquisition, the director owned 54,871 shares of the company’s stock, valued at approximately $804,408.86. This represents a 10.03% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Stephen D. Griffin bought 12,200 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were bought at an average price of $12.29 per share, for a total transaction of $149,938.00. Following the completion of the acquisition, the chief executive officer directly owned 36,163 shares in the company, valued at approximately $444,443.27. This trade represents a 50.91% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 12.08% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Anika Therapeutics

Several institutional investors have recently added to or reduced their stakes in ANIK. Quarry LP bought a new position in Anika Therapeutics during the 3rd quarter worth about $71,000. CWM LLC lifted its holdings in shares of Anika Therapeutics by 14.5% in the fourth quarter. CWM LLC now owns 8,537 shares of the biotechnology company’s stock valued at $82,000 after purchasing an additional 1,080 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new position in shares of Anika Therapeutics during the third quarter worth about $95,000. Ieq Capital LLC bought a new position in shares of Anika Therapeutics during the fourth quarter worth about $97,000. Finally, Tudor Investment Corp ET AL bought a new position in shares of Anika Therapeutics during the third quarter worth about $107,000. 91.53% of the stock is owned by institutional investors.

Anika Therapeutics Company Profile

Anika Therapeutics, Inc is a life sciences company specializing in the development and commercialization of hyaluronic acid–based therapeutic products. The company focuses on orthobiologics and medical devices designed to support joint health, tissue repair and surgical applications. Anika’s proprietary hyaluronan technology serves as the foundation for products aimed at alleviating pain associated with osteoarthritis and enhancing healing in musculoskeletal and ophthalmic surgeries.

The company’s core product portfolio includes injectable viscosupplements such as Monovisc® and Orthovisc®, which are indicated for the relief of knee osteoarthritis pain, as well as Euflexxa®, approved for osteoarthritis of the knee in various international markets.